To survive, the eurozone must embrace an “all for one, one for all” mindset

Can monetary policy alone really solve the eurozone’s deep-rooted problems?

Certainly, Mario Draghi appears to have the magic touch, whether he’s promising to do whatever it takes or, last week, planning to buy large amounts of paper in a bid to avoid the onset of deflation. Unfortunately, monetary policy – conventional or otherwise – has its limits. Even if Mr Draghi manages to alleviate the deflationary threat, the eurozone will still be faced with severe fault lines.